The way that the meal or the music or the movie makes you feel in the moment—either good or bad—could be called experienced utility.
This phenomenon is called the endowment effect. Once something is given to you, it’s yours. Once it becomes part of your endowment, even after a very few minutes, giving it up will entail a loss. And,...
Theme we will pursue throughout this book, which is this: When people have no choice, life is almost unbearable. As the number of available choices increases, as it has in our consumer culture, the au...
What Seligman and his colleagues proposed was that when people are looking for causes for failure, they display a variety of predispositions to accept one type of cause or another, quite apart from wh...
What these studies show is that when people are asked to give reasons for their preferences, they may struggle to find the words. Sometimes aspects of their reaction that are not the most important de...
When asked about what they regret most in the last six months, people tend to identify actions that didn’t meet expectations. But when asked about what they regret most when they look back on their li...
I believe that one of the reasons that maximizers are less happy, less satisfied with their lives, and more depressed than satisficers is precisely because the taint of trade-offs and opportunity cost...
His book Choosing the Right Pond, economist Robert Frank exposes just how much of social life is determined by our desire to be big fish in our own ponds. If there were only one pond—if everyone compa...
Because of a ubiquitous feature of human psychology, very little in life turns out quite as good as we expect it will be.
But by restricting our options, we will be able to choose less and feel better.
Restricting yourself in this way may seem both difficult and arbitrary, but actually, this is the kind of discipline we exercise in other aspects of life. You may have a rule of thumb never to have mo...
Most good decisions will involve these steps: Figure out your goal or goals. Evaluate the importance of each goal. Array the options. Evaluate how likely each of the options is to meet your goals. Pic...
Will argue that: We would be better off if we embraced certain voluntary constraints on our freedom of choice, instead of rebelling against them. We would be better off seeking what was good enough in...
Ninety percent of adults spend half their waking lives doing things they would rather not be doing at places they would rather not be.
The modern university is a kind of intellectual shopping mall.
Simply by being aware of the process we can anticipate its effects, and therefore be less disappointed when it comes. This means that when we are making decisions, we should think about how each of th...
Pay attention to what you’re giving up in the next-best alternative, but don’t waste energy feeling bad about having passed up an option further down the list that you wouldn’t have gotten to anyway.
There is an important lesson to be taken from this research on counterfactual thinking, and it’s not that we should stop doing it; counterfactual thinking is a powerful intellectual tool. The lesson i...
Twenty-five years ago, economist Tibor Scitovsky explored some of the consequences of the phenomenon of adaptation in his book The Joyless Economy. Human beings, Scitovsky said, want to experience ple...
So it seems that neither our predictions about how we will feel after an experience nor our memories of how we did feel during the experience are very accurate reflections of how we actually do feel w...
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